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June 23, 2022

JLL secures $36.5M for historic brewery complex

Over three years back, ScanlanKemperBard of Portland paid over $38 million for the Original Rainier Brewery in Georgetown, at 5624 - 6004 Airport Way S. Now JLL has announced that it secured a nearly $36.5 million bridge loan last month. JLL's Tom Wilson and Zachary Kersten led the effort. Public records indicate the lender is UBS Bank. The new money replaces the original 2018 loan from Marathon Asset Management. JLL says the floating-rate loan has a three-year initial term, with two one-year extensions. The four-building complex has about 193,908 square feet, with some 39 small tenants including Fran's Chocolates. The oldest portions of the complex date to 1903, with many subsequent additions and alterations. CBRE represents the space.

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